BUSINESSMAN MANUEL V. Pangilinan’s
camp will be selling its stake in Rockwell Land Corp. to the Lopezes to allow
it to focus on power investments, which could include a future factory for
electric vehicles.

“We are selling it to the Lopezes,”
Mr. Pangilinan told reporters on Friday after a stockholders meeting, referring
to a 23.1% stake in the property developer, which is largely held by the
Lopez-led First Philippine Holdings Corp.

“We will disclose the [price after the
transaction] is finished,” he added.

The Pangilinan group controls 23.1% in
the property developer, through Beacon Electric Asset Holdings, Inc., the
controlling shareholder of Meralco.

This, as Mr. Pangilinan said that his
group might set up a unit intended for its investments in e-vehicles.

“First Pacific Co. Ltd. will have to
establish separate vehicle for the e-vehicle investments,” he said, clarifying
that the locally based Metro Pacific Investments Corp. (MPIC) will not be the
investment vehicle.

“If we [Filipino] people don’t look at
it as an opportunity, it would be a pity for us, because we will give a lot of
livelihood to China, Korea and Taiwan, which were heavily represented in the
summit [on Thursday],” he said during the stockholders’ meeting, referring to
the Electric Vehicle Summit.

Mr. Panglinan said that his group
“should seriously consider if they have the capability to manufacture” the
country’s jeepneys and tricycles.

Mr. Pangilinan went on to note that
MPIC’s connector road project, the North Luzon Expressway (NLEx) to the South
Luzon Expressway (SLEx), could be “completed by December of 2015” if government
greenlights it within this year.